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South32 Ltd (S32) | Mining: South32 Ltd. operates as a metal and mining company. It operates through the following mines: Worsley Alumina, Hillside Aluminium, Mozal Aluminium, Brazil Alumina, South Africa Energy Coal, Illawarra Metallurgical Coal, Eagle Downs Metallurgical Coal, Australia Manganese, South Africa Manganese, Cerro Matoso, Cannington, and Hermosa.
The share price made a higher high to trade at R50.18 and it made a retrace back the previous high of R43.93, the price is also testing the 50-day Simple Moving Average (SMA). The share is trading above the 200-day Simple Moving Average (SMA), meaning the bulls are in charge of the trend. The Moving Average Convergence Divergence (MACD) is yet to confirm a bullish crossover, suggesting the momentum to the upside.
A potential buy/long idea can be initiated with a take profit (TP) set at R50.15 and the stop loss (SL) set at R42.37.
Woolworths Holdings Ltd (WHL) | Retail Trade: Woolworths Holdings Ltd. is an
investment company, which is in the provision of retail and financial services.
It operates in Woolworths fashion, beauty, and home, Woolworths food;
Woolworths financial services, Woolworths logistics, David Jones and Country
road group.
The share price has been trading in a descending channel and has tested the upper bound of the channel at the R64.00 region and has since retraced. The share is trading below the 200-day Simple Moving Average (SMA), meaning the bears are in charge of the trend.The Moving Average Convergence Divergence (MACD) is yet to confirm a bearish crossunder, suggesting the momentum to the downside is applicable.
A speculative sell/short idea can be initiated with a take profit (TP) set at R53.96 and the stop loss (SL) set at R64.99.
Spar Group Ltd(SPP) | Distribution Services: Spar Group Ltd. is in the business
of wholesale and distribution of goods and services to SPAR, SUPERSPAR, TOPS,
SaveMor, Build it, and Pharmacy.
The share price has been testing the resistance level since October 2023 and retracing down to regions of R96.00.The Moving Average Convergence Divergence (MACD) is yet to confirm a bearish crossunder, suggesting the momentum to the downside is applicable.
A speculative sell/short idea can be initiated with a take profit (TP) set at R124.09 and the stop loss (SL) set at R96.00.
Exxon Mobil Corp (XOM) | Mining: Exxon Mobil Corp. is in the business of exploration, development, and distribution of oil, gas, and petroleum products.
The share price tested the 200-day Simple moving average (SMA) and closed above the SMA, signalling that the bulls are still in charge of the trend.The Moving Average Convergence and Divergence (MACD) is to confirm a bullish crossover, suggesting momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $122.74 and the stop loss set at $105.30.
Best Buy Co. Inc (BBY) | Retail Trade: Best Buy Co. Inc. is in the business of consumer technology products and services. It operates in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales. Internationally it operates in Canada, Europe, China, Mexico and Turkey.
The share has been trading in a range, it has tested the resistance level at $91.00 region. The Relative Strength Indicator (RSI) has reached the overbought region and crossunder, suggesting the momentum to the upside will cool off,and favouring the downward momentum.
A speculative Sell/Short can be initiated with target set at $80.58 and stop loss is set at $95.21.
Automatic Data Processing, Inc (ADP) | Technology Services: Automatic Data Processing, Inc. is
in the provision of business outsourcing solutions in cloud-based human capital
management.
The share price is trading in an ascending channel, the price is testing the midpoint level of the channel, also coupled with testing the 200-day Simple moving average (SMA) and closing above the SMA.The Moving Average Convergence and Divergence (MACD) has confirmed a bullish crossover, suggesting momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $263.44 and the stop loss set at $240.49.
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